Is Draghi at his WIT's End?

After declaring the ECB would do "whatever it takes" to save the euro, the bank's head runs into German opposition.

Whatever It Takes. Or WIT for short. That is what European Central Bank Mario Draghi has sworn to do to save the euro. Whether he can deliver on that promise, at least as soon as global markets hope, is another matter.

Once again, I'm indebted to Ed Yardeni, who heads the eponymously named Yardeni Research, for that clever contraction, WIT. In the case of the ECB, is widely inferred by the financial markets to mean the outright central-bank purchase of sovereign debt, which would have the direct effect of capping yields on...